Career and Education Opportunities for Actuaries in Rhode Island

Rhode Island has a population of 1,053,209, which has grown by 0.47% over the past 10 years. Nicknamed the "Ocean State," Rhode Island's capital and most populous city is Providence.

The national trend for actuaries sees this job pool growing by about 21.4% over the next eight years. In general, actuaries analyze statistical data, such as mortality, accident, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits.

The income of an actuary is about $40 per hour or $84,180 per year on average in Rhode Island. In the U.S. as a whole, their income is about $40 per hour or $84,810 per year on average. Actuaries earn more than people working in the category of Statistics Analysis generally in Rhode Island and more than people in the Statistics Analysis category nationally. People working as actuaries can fill a number of jobs, such as: product development actuary, pricing actuary, and actuarial consultant.

In 2008, there were a total of 612,258 jobs in Rhode Island. The average annual income was $41,261 in 2008, up from $40,147 the preceding year. The unemployment rate in Rhode Island was 11.2% in 2009, which has grown by 3.6% since the previous year. Approximately 25.6% of Rhode Island residents have college degrees, which is higher than the national average.

The top industries in Rhode Island include miscellaneous manufacturing, other miscellaneous manufacturing, and electrical equipment, appliance, and component manufacturing. Notable tourist destinations include the RI Holocaust Museum, the Providence Childrens's Museum, and the USS Saratoga Museum Foundation Inc.

CITIES WITH Actuary OPPORTUNITIES IN Rhode Island

JOB DESCRIPTION: Actuary

Actuary video from the State of New Jersey Dept. of Labor and Workforce Development

In general, actuaries analyze statistical data, such as mortality, accident, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. They also may ascertain premium rates required and cash reserves necessary to ensure payment of future benefits.

Every day, actuaries are expected to be able to deal with basic arithmetic problems. They need to articulate ideas and problems. It is also important that they read and understand documents and reports.

Similar jobs with educational opportunities in Rhode Island include:

Operations Research Analyst. Formulate and apply mathematical modeling and other optimizing methods using a computer to develop and interpret information that assists management with decision making, policy formulation, or other managerial functions. May develop related software, service, or products. Frequently concentrates on collecting and analyzing data and developing decision support software. May develop and supply optimal time, cost, or logistics networks for program evaluation, review, or implementation.

LOCATION INFORMATION: Rhode Island

Rhode Island photo by Whitney

Rhode Island has a population of 1,053,209, which has grown by 0.47% in the last 10 years. Nicknamed the "Ocean State," Rhode Island's capital and biggest city is Providence. In 2008, there were a total of 612,258 jobs in Rhode Island. The average annual income was $41,261 in 2008, up from $40,147 in 2007. The unemployment rate in Rhode Island was 11.2% in 2009, which has grown by 3.6% since the previous year. Roughly 25.6% of Rhode Island residents have college degrees, which is higher than the national average.

The top industries in Rhode Island include miscellaneous manufacturing, other miscellaneous manufacturing, and electrical equipment, appliance, and component manufacturing. Notable tourist attractions include the Rhode Island Historical Society, the USS Saratoga Museum Foundation Inc, and the Governor Henry Lippitt House Museum.